Tax & Accounting Services in Cyprus

Why Choose Philippou Law as Your Tax Accountant in Cyprus

Philippou Law Firm combines legal expertise with professional accounting services, offering a distinct advantage over standalone accounting firms in Cyprus. Our team of qualified accountants and tax advisors works alongside corporate lawyers, ensuring that every tax decision is informed by a thorough understanding of both the regulatory landscape and your broader business objectives.

As a full-service firm, we handle everything from day-to-day bookkeeping and VAT returns to complex international tax structuring — all under one roof. This integrated approach means fewer handoffs, faster turnarounds, and consistent advice across all areas of your business in Cyprus.

Tax and Accounting Services for Companies

Every company registered in Cyprus is subject to the 15% corporate income tax on its worldwide profits and must comply with statutory audit, VAT, and payroll obligations. Our accounting services for companies cover the full compliance cycle:

• Corporate tax computation and filing — preparation and electronic submission of form TD4 within the 15-month deadline, including provisional tax assessments.
• VAT registration and compliance — registration with the Tax Department, quarterly VAT return preparation, and management of input/output VAT across standard (19%) and reduced rates.
• Statutory audit coordination — liaising with licensed auditors to ensure your financial statements comply with International Financial Reporting Standards (IFRS) and are filed with the Registrar of Companies on time.
• Bookkeeping and payroll — daily transaction recording, bank reconciliations, salary calculations, social insurance, PAYE, and GHS contribution processing.
• Annual returns — preparation and filing of the annual return (form HE32) with the Registrar of Companies.

Learn more about our accounting and audit services for companies.

Tax Advisory Services for Individuals

Cyprus offers one of the most attractive personal tax regimes in Europe, with a generous €22,000 tax-free threshold and progressive rates up to 35%. Our individual tax services help you take full advantage of the available exemptions and reliefs:

• Personal income tax returns — accurate preparation and filing of annual tax declarations.
• Tax residency structuring — advice on the 183-day and 60-day tax residency rules to establish the most beneficial residence status.
• Non-domicile (non-dom) advisory — guidance on obtaining non-dom status and the associated exemption from Special Defence Contribution on dividends, interest, and rental income.
• Employment tax exemptions — structuring to benefit from the 50% exemption for high earners and the 20% exemption for new residents taking up employment in Cyprus.

Learn more about our personal tax services and the Cyprus non-dom regime.

International Tax Planning

Cyprus has signed over 65 double taxation treaties, making it a strategic base for international tax planning. Combined with the 15% corporate tax rate and EU membership, Cyprus offers significant advantages for cross-border business structures. Our international tax advisory covers:

• Double taxation treaty planning — structuring operations to benefit from reduced withholding tax rates on dividends, interest, and royalties.
• IP Box regime — leveraging the Cyprus intellectual property regime for an effective tax rate as low as 2.5% on qualifying IP profits, fully compliant with the OECD modified nexus approach.
• Holding company structures — establishing Cyprus holding companies to benefit from participation exemptions on dividend income and capital gains from the disposal of shares.
• Transfer pricing documentation — preparing transfer pricing studies and documentation in accordance with OECD guidelines and Cyprus transfer pricing rules.

Learn more about the Cyprus IP Box regime.